Wondering how you can get the best deal on your new SUV? The Honda CR-V is one of the most popular compact SUVs on the market, known for its reliability, fuel efficiency, and spacious interior. As we move through 2024, there are several strategies you can employ to save big money on purchasing a Honda CR-V.
1. Timing Is Everything
End-of-Year Sales: The best time to buy a Honda CR-V is typically at the end of the year. Dealerships are eager to clear out current year models to make room for next year’s inventory. This period, often around December, can provide significant discounts and promotions.
Holiday Sales Events: Keep an eye out for major holiday sales events such as Memorial Day, Labor Day, and Black Friday. Dealers often have special incentives to boost sales during these times, offering lower prices and better financing options.
End of the Month/Quarter: Dealerships often have sales quotas to meet. By shopping at the end of the month or quarter, you might find salespeople more willing to negotiate and offer better deals to meet their targets.
2. Do Your Research
Know the Market Price: Use online resources like Kelley Blue Book, Edmunds, and TrueCar to research the fair market value of the Honda CR-V. This knowledge will give you a strong bargaining position when negotiating with dealers.
Compare Multiple Dealerships: Don’t settle for the first offer you receive. Visit multiple dealerships, both in person and online, to compare prices and promotions. Some dealerships might be more willing to offer a better deal to earn your business.
Check for Incentives and Rebates: Manufacturers and dealerships frequently offer incentives and rebates, such as cash-back offers, loyalty programs, and special financing rates. Make sure to inquire about these deals and factor them into your purchase decision.
3. Consider Certified Pre-Owned (CPO) Vehicles
Buying a certified pre-owned (CPO) Honda CR-V can save you thousands of dollars while still providing the benefits of a new car. CPO vehicles come with a manufacturer-backed warranty, have undergone rigorous inspections, and often include additional perks like roadside assistance.
4. Negotiate Like a Pro
Start with the Invoice Price: The invoice price is what the dealer paid for the car. While you may not always get the car at this price, it’s a good starting point for negotiations. Aim for a price close to the invoice to maximize your savings.
Be Prepared to Walk Away: If a dealer isn’t willing to meet your price, don’t be afraid to walk away. There are plenty of other dealerships and opportunities to find the right deal for you.
5. Leverage Financing and Trade-In Options
Secure Financing in Advance: Getting pre-approved for a loan from your bank or credit union can give you more negotiating power and might result in better interest rates compared to dealership financing.
Maximize Your Trade-In Value: If you’re trading in your current vehicle, research its value beforehand. Clean and repair it as needed to maximize its trade-in value, and negotiate this aspect of the deal separately from the price of the new CR-V.
6. Explore Online Buying Options
With the rise of online car buying platforms, you can often find competitive prices and enjoy a hassle-free buying experience. Websites like Carvana, Vroom, and even some dealership websites allow you to shop, finance, and arrange delivery of your new Honda CR-V without ever stepping foot in a showroom.
Drive One Home Today!
By timing your purchase strategically, doing thorough research, considering certified pre-owned options, negotiating effectively, leveraging financing and trade-in options, and exploring online buying, you can save big money on a Honda CR-V in 2024. Happy car shopping.